Handelsbanken Fonder AB Acquires 28,192 Shares of Intuitive Surgical, Inc. $ISRG

Handelsbanken Fonder AB raised its stake in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 9.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 315,981 shares of the medical equipment provider’s stock after acquiring an additional 28,192 shares during the period. Handelsbanken Fonder AB’s holdings in Intuitive Surgical were worth $141,316,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SteelPeak Wealth LLC lifted its stake in Intuitive Surgical by 28.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 41,993 shares of the medical equipment provider’s stock worth $18,781,000 after purchasing an additional 9,364 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Intuitive Surgical by 2.2% in the second quarter. Amalgamated Bank now owns 81,542 shares of the medical equipment provider’s stock worth $44,311,000 after purchasing an additional 1,772 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Intuitive Surgical by 19.3% in the third quarter. Atlantic Union Bankshares Corp now owns 22,759 shares of the medical equipment provider’s stock worth $10,179,000 after buying an additional 3,676 shares in the last quarter. World Investment Advisors boosted its stake in Intuitive Surgical by 238.3% during the third quarter. World Investment Advisors now owns 5,399 shares of the medical equipment provider’s stock valued at $2,415,000 after buying an additional 3,803 shares during the last quarter. Finally, E. Ohman J or Asset Management AB boosted its stake in Intuitive Surgical by 4.1% during the third quarter. E. Ohman J or Asset Management AB now owns 28,306 shares of the medical equipment provider’s stock valued at $12,659,000 after buying an additional 1,123 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Insiders Place Their Bets

In other news, VP Fredrik Widman sold 133 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $65,829.68. Following the sale, the vice president directly owned 660 shares in the company, valued at approximately $326,673.60. This represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Myriam Curet sold 421 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $494.96, for a total value of $208,378.16. Following the sale, the executive vice president directly owned 409 shares of the company’s stock, valued at $202,438.64. This represents a 50.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 56,189 shares of company stock worth $30,785,441. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ISRG shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Intuitive Surgical in a research note on Monday, December 29th. Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $620.00 price target (up from $610.00) on shares of Intuitive Surgical in a research note on Friday, January 23rd. HSBC lifted their price objective on shares of Intuitive Surgical from $644.00 to $653.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Sanford C. Bernstein upped their target price on shares of Intuitive Surgical from $740.00 to $750.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Surgical presently has a consensus rating of “Moderate Buy” and an average price target of $615.86.

Intuitive Surgical Stock Up 0.1%

ISRG stock opened at $506.88 on Friday. Intuitive Surgical, Inc. has a twelve month low of $425.00 and a twelve month high of $603.88. The stock has a market capitalization of $180.01 billion, a price-to-earnings ratio of 64.24, a price-to-earnings-growth ratio of 3.90 and a beta of 1.65. The firm’s fifty day simple moving average is $531.21 and its two-hundred day simple moving average is $511.26.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Thursday, January 22nd. The medical equipment provider reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.26. Intuitive Surgical had a net margin of 28.38% and a return on equity of 15.06%. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the previous year, the company earned $2.21 EPS. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 6.43 EPS for the current year.

About Intuitive Surgical

Intuitive Surgical, founded in 1995 and headquartered in Sunnyvale, California, is a medical technology company focused on the design, manufacture and service of robotic-assisted surgical systems. The company is best known for its da Vinci surgical systems, which enable minimally invasive procedures by translating a surgeon’s hand movements into finer, scaled motions of small instruments inside the patient. Intuitive’s business centers on supplying hospitals and surgical centers with systems, instruments and related technologies that aim to improve precision, visualization and control in the operating room.

In addition to its core surgical platforms, Intuitive markets a portfolio of reusable and disposable instruments, accessories, and proprietary software, and provides training, servicing and clinical support to its customers.